Ethereum News Today: Ether Rises 50% in Two Weeks as Bulls Target $9,000 by 2026

Ether (ETH) has surged 50% in two weeks, reigniting speculation about its potential to reach $9,000 by early 2026. This projection is based on Elliott Wave analysis, which identifies Ethereum as entering a third impulsive wave—a phase historically linked to significant price peaks. XForceGlobal’s model, validated in part by recent price movements, suggests the target hinges on sustained macroeconomic conditions [1].

On-chain data supports a bullish narrative, with 28% of ETH’s 120.7 million supply staked—a capital lockup that reduces circulating supply and signals investor confidence. Exchange balances have plummeted to 16.2 million ETH, the lowest since 2016, indicating reduced sell-side liquidity [1]. Meanwhile, new buyer inflows have increased by 16% since early July, according to Glassnode, as first-time holders accumulate short-term positions. This trend, noted as a potential reversal signal by analysts, aligns with $4 billion in spot ETH ETF inflows over the past two weeks [1].

Ethereum’s undervaluation relative to Bitcoin is another focal point. While BTC has surged 74% over the past year, ETH has fallen 28%, widening the performance gap. Analysts at Bitcoin Vector argue ETH is “under-owned, undervalued, and in catch-up mode,” suggesting a potential rotation into altcoins could follow. The $4,000 level, a key psychological and technical threshold, is seen as critical for sustaining momentum [1].

Network activity further underscores growing demand. Despite rising block gas limits—most recently in July 2025—Ethereum’s capacity remains near full, with blocks filling rapidly after each upgrade. This pattern suggests latent demand has consistently materialized as scalability improves. While transaction types have shifted away from NFTs and DeFi, stablecoin transfers and “vanilla” ETH movements are rising, signaling increased settlement and trading activity [1].

Glassnode’s MVRV Z-score, which compares Ethereum’s market cap to its realized cap, remains below peak cycle levels, indicating the asset is still far from euphoric valuation zones. Similarly, the NUPL (Net Unrealized Profit/Loss) indicator stands at 0.47, reflecting “Optimism/Anxiety” among investors—a category below Bitcoin’s 0.57 and Ripple’s 0.62, which enter “Belief/Denial” territory [1].

Critically, Ethereum’s on-chain fundamentals—high staking rates, declining exchange balances, and robust network usage—suggest a structural, rather than purely speculative, bull case. However, the $9,000 target remains conditional on macroeconomic stability and sustained demand. Analysts caution that while technical and fundamental indicators point to a strong setup, market cycles are inherently unpredictable.

Source: [1] [title1ETH bulls target $9K: Does the data support the lofty price target?] [url1https://coinmarketcap.com/community/articles/6883fc02f4dca2206ba47313/]